February 12, 2019 |
Mexico's state-run power company CFE has asked to review natural gas contracts with the private-sector firms Grupo Carso, IEnova and TransCanada to keep a lid on energy prices.
Manuel Bartlett, head of the state utility company, said the CFE has to pay MXN16bn ($828m) this year for seven natural gas pipelines that are not yet built or do not deliver natural gas. The CFE paid MXN5bn through the same contracts last year, he added.
Shares in IEnova dropped as much as 6.95% on Monday morning and end
State-owned power company CFE wants to renegotiate natural gas deals with Carso, IEnova and TransCanada